StockNews.com Initiates Coverage on Avinger (NASDAQ:AVGR)

Analysts at StockNews.com began coverage on shares of Avinger (NASDAQ:AVGR) in a report released on Monday. The brokerage set a “hold” rating on the medical device company’s stock.

Separately, HC Wainwright reissued a “buy” rating and set a $5.00 target price on shares of Avinger in a research report on Thursday, March 21st.

Avinger Trading Up 4.7 %

AVGR stock opened at $3.78 on Monday. The company has a market cap of $6.01 million, a PE ratio of -0.14 and a beta of 1.26. The stock has a 50-day moving average price of $3.20 and a two-hundred day moving average price of $3.48. Avinger has a 12-month low of $2.50 and a 12-month high of $18.00.

Institutional Trading of Avinger

Several large investors have recently added to or reduced their stakes in AVGR. Dimensional Fund Advisors LP acquired a new position in shares of Avinger during the first quarter worth about $64,000. Renaissance Technologies LLC acquired a new position in Avinger during the 2nd quarter worth approximately $42,000. Armistice Capital LLC boosted its holdings in Avinger by 7.8% in the 4th quarter. Armistice Capital LLC now owns 720,136 shares of the medical device company’s stock worth $781,000 after acquiring an additional 52,000 shares during the period. Finally, Prosperity Wealth Management Inc. acquired a new stake in Avinger in the second quarter valued at approximately $49,000. 18.30% of the stock is currently owned by institutional investors and hedge funds.

About Avinger

Avinger, Inc, a commercial-stage medical device company, designs, manufactures, and sells a suite of image-guided and catheter-based systems used by physicians to treat patients with peripheral artery disease (PAD) in the United States and internationally. It develops lumivascular platform that integrates optical coherence tomography visualization with interventional catheters to provide real-time intravascular imaging during the treatment portion of PAD procedures.